{"id":328670,"date":"2026-07-03T18:41:48","date_gmt":"2026-07-03T18:41:48","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/328670\/"},"modified":"2026-07-03T18:41:48","modified_gmt":"2026-07-03T18:41:48","slug":"hedge-fund-billionaire-ken-griffin-secretly-bought-out-a-miami-condo-building-just-to-bulldoze-it","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/328670\/","title":{"rendered":"Hedge fund billionaire, Ken Griffin secretly bought out a Miami condo building just to bulldoze it"},"content":{"rendered":"

\"Solaris<\/a> Ken Griffin is tearing down the Solaris condo building to make way for his Citadel empire. <\/p>\n

Leave it to the ultra-wealthy to secretly drop $125 million on a building just to demolish it. <\/p>\n

Hedge fund billionaire Ken Griffin spent three years using a web of anonymous LLCs to quietly buy up all 138 units, plus the ground-floor retail space, of the Solaris condominium in Miami, Bloomberg reported<\/a>. <\/p>\n

The mastermind behind the buyouts was a total mystery<\/a> until recently. <\/p>\n

“The yearslong campaign featured repeated rounds of higher offers, personalized pitches to reluctant sellers and below-market leasebacks to people who wanted to stay temporarily,” according to Bloomberg, which interviewed five former owners at the Solaris. <\/p>\n

<\/a> Mystery buyer revealed: Ken Griffin. REUTERS <\/p>\n

Mark Clifton, one of the first condo owners to sell, got just over $500,000 from one of Griffin’s anonymous LLCs in December 2022. <\/p>\n

“Obviously, we should’ve held out,” Clifton told the outlet. “But the timing was optimum for us. I’m sure a lot of people were upset that they didn’t get top dollar.” <\/p>\n

Griffin paid an average of $875 per square foot between late 2002 and mid-2025, overpaying by more than 20%, Bloomberg found citing Redfin data for the area. <\/p>\n

<\/a> Solaris will be torn down this summer to make way for Griffin’s Citadel empire. Miami MLS <\/a> Griffin is developing a $2.5 billion, 54-story tower to serve as the new global headquarters for his Citadel and Citadel Securities. Getty Images <\/p>\n

The 22-story tower in Miami’s Brickell financial district was one of the final roadblocks in Griffin’s quest to build a multi-billion-dollar corporate campus. <\/p>\n

The only thing left standing on the block now is a city-owned historic building that once housed Miami’s first physician’s office. It currently serves as headquarters for the Dade Heritage Trust. <\/p>\n

Plans<\/a> call for a 300-unit apartment building, a 1,420-space parking garage, a $2.5 billion, 54-story headquarters tower for his Citadel hedge fund and securities firm, and possibly a hotel. <\/p>\n

Since uprooting Citadel and Citadel Securities from Chicago in 2022, Griffin has poured more than $1 billion into assembling a five-acre mega-parcel spanning two city blocks in Brickell<\/a>.\u00a0 <\/p>\n

<\/a> Griffin started buying up each condo between late 2022 and 2025, overpaying by more than 20 percent. Citadel <\/p>\n

The aggressive Florida expansion<\/a> comes on the heels of a public feud with New York City’s democratic socialist mayor, Zohran Mamdani. <\/p>\n

The bad blood boiled over in April, when Mamdani posted a viral social media video<\/a> advocating for a “pied-\u00e0-terre” tax on luxury second homes worth over $5 million \u2014 filmed right outside Griffin’s record-shattering $238 million penthouse at 220 Central Park South. <\/p>\n

Griffin said a few years ago that he believes Miami could eclipse New York’s Wall Street<\/a> as more companies flee New York’s high taxes and crime rates. <\/p>\n

“We are proud to invest in Miami’s continued growth and to play a positive role in Brickell’s long-term future as it continues to attract residents, businesses, and capital from around the world,” a spokesperson for Griffin told The Post. <\/p>\n","protected":false},"excerpt":{"rendered":"Ken Griffin is tearing down the Solaris condo building to make way for his Citadel empire. Leave it…\n","protected":false},"author":2,"featured_media":328671,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[37627,135700,101526,26868,802,135699,123,125,124],"class_list":["post-328670","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-bloomberg","tag-citadel-securities","tag-hedge-fund","tag-historic-building","tag-ken-griffin","tag-mark-clifton","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/328670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=328670"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/328670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/328671"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=328670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=328670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=328670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}